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Easily navigate Taiwan's distinct business environment with Innovare's all-inclusive EOR solutions. From detailed immigration assistance to smooth payroll management.
Navigate Japan's unique business landscape effortlessly with Innovare's comprehensive EOR solutions. From intricate immigration services to seamless payroll administration, we're your bridge to tapping into the world's third-largest economy.
Innovare empowers seamless business expansion into Taiwan's thriving technological and industrial hub. Our comprehensive EOR services leverage our deep expertise and unwavering commitment to compliance, ensuring a smooth adaptation for your venture within the local business landscape.
Expert navigation through Taiwan's dynamic economy, a leader in high-tech industries.
Streamlined processes for foreign worker employment and payroll management.
Unwavering dedication to adhering to local regulations and labour laws.
Specialised support for both expats and local hires in Taiwan.
Taiwan law mandates employers to provide a written employment contract outlining key employment terms to new hires within 30 days of their start date. This contract fosters transparency by clearly detailing job duties, work schedules, compensation, and leave entitlements, establishing a strong foundation for the employment relationship.
● Clearly define roles and responsibilities to ensure a shared understanding of performance benchmarks.
● Outline work schedules promote transparency and adherence to working hour regulations. Taiwan adheres to a standard 40-hour workweek.
● Specify salary, benefits, and any allowances to ensure financial transparency. As of 2024, there is no statutory minimum wage in Taiwan, but general market rates should be followed.
Taiwanese law mandates monthly salary payments by the 15th of the following month. The standard workweek is 40 hours, with overtime (maximum 36 hours a month) pay mandatory for exceeding these hours.
Taiwan operates a progressive tax system, meaning tax rates increase as income rises. Here's a breakdown of the general tax structure for reference:
Taiwanese labor laws grant employees various leave entitlements to promote work-life balance and employee well-being. Here's an overview of some key leave provisions:
There is no social security tax in Taiwan, but factories, mines, and all companies with 50 or more employees must establish funds for employee welfare. These contributions fund various social welfare programs, providing a safety net for employees. Here's a breakdown of the key points:
● Programs: Taiwan's social security system comprises National Health Insurance(NHI), Labor Insurance, and Employee Pension.
● Employee vs. Employer Contributions: Contribution rates vary depending on the program and employee status (local or expat).
○ Labor Insurance: 11.5% (10.5% -Labour and 1% - Employment) of monthly salary category2, co-contributed by Employer: 70%; Employee: 20% & Government: 10%
○ National Health Insurance (NHI): 5.17% of monthly salary classification1,co-contributed by Employer: 60%;Employee: 30% & Government: 10%
○ Employee Pension: Employer contribution rates are around 6%.
● Benefits: Social security programs offer various benefits, including healthcare coverage (NHI), retirement pensions (Employee Pension), and income protection for work-related injuries or unemployment (Labor Insurance).
Termination procedures in Taiwan require adherence to authorised cause prescribed under labor law with specific notice periods or severance pay in lieu of notice. Here's a general overview of the termination process:
● Notice Periods: Notice periods are typically identical for both employers and employees, with a minimum of 30 days required by law.
● Ten days' notice for service of more than three months and less than one year.
● 20 days' notice for service of more than one year but less than three years.
● 30 days' notice for service of three years or more.
Taiwan boasts a thriving technology sector, renowned for its world-class semiconductor manufacturing and a highly skilled tech workforce. This dynamic environment creates exciting opportunities for businesses in electronics, IT, and telecommunications.
Situated in East Asia, Taiwan serves as a key link in global supply chains and a gateway to the broader Asian market. This strategic location offers access to a vast consumer base, making it an attractive location for regional expansion.
The Taiwanese government actively promotes foreign investmentthrough business-friendly policies and incentives, including tax breaks andstreamlined regulations. This supportive environment fosters a stable andpredictable landscape for companies looking to establish a presence in Taiwan.
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